Global growth engines sputteringThe International Monetary Fund's revised World Economic Outlook (WEO) is sobering. It is rare for the organisation to revise down sharply its projections for economic growth just one quarter into the calendar year. Yet in this case, it has done so for 86% of its 190 member countries, resulting in a decline of almost one percentage point in global growth for 2022 -- from 4.4% to 3.6%. The IMF does not expect its significant downward revision in global economic growth for 2022 to be offset in 2023. The IMF's report offers an important reminder to policymakers that they need to focus much more attention on generating innovation, improving productivity, and strengthening the other drivers of robust, inclusive economic growth.

Source: Bangkok Post April 26, 2022 09:54 UTC